Inside Self-Storage

Real Estate Investment Trust (REIT)

Self-Storage REITs Release 4Q 2012 and Year-End Results

The four U.S.-based self-storage real estate investment trusts (REITs)—CubeSmart, Extra Space Storage Inc., Public Storage Inc. and Sovran Self Storage Inc.—have released financial statements for the quarter that ended Dec. 31, 2012. In general, all four entities showed ...More
February 27, 2013
Posted in News, Finance, Real Estate
Extra Space Storage Announces First-Quarter 2013 Stock Dividend

The board of directors for Extra Space Storage Inc., a self-storage real estate investment trust, has declared a quarterly dividend of $0.25 per share on the common stock of the company for the first quarter 2013. ...More
February 25, 2013
Posted in News, Finance
Self-Storage REIT CubeSmart Names Marr to Succeed Jernigan as CEO

Christopher P. Marr has been named the successor to Dean Jernigan as chief executive officer of CubeSmart, a self-storage real estate investment trust (REIT), beginning Jan. 1, 2014. Marr currently serves as the company’s president, chief operating officer and chief ...More
February 21, 2013
Posted in News, Management
Uncle Bob’s Self Storage Hosts Yard-Sale Events to Benefit Homeless Animals

Uncle Bob’s Self Storage, the operating brand of Sovran Self Storage Inc., will hold a series of yard sales beginning this weekend to raise money for homeless animals. The events will be held in conjunction with Mostly Mutts Animal Rescue & Adoption and take place at ...More
February 14, 2013
Posted in News
5 Chicago Self-Storage Properties Sold for $41M

A five-facility self-storage portfolio in Chicago recently sold to two separate companies for $41 million. Four of the properties were acquired by real estate investment trust Sovran Self Storage Inc. The fifth, near Loyola University, was sold to the Core Property Fund of ...More
February 7, 2013
Posted in News, Real Estate
Self-Storage REITs to Release 4Q 2012 Financial Results, Conference Calls Announced

The four U.S.-based self-storage real estate investment trusts (REITs)—CubeSmart, Extra Space Storage Inc., Public Storage Inc. and Sovran Self Storage Inc.—have announced when and how they will reveal their earnings statements for the fiscal quarter that ended Dec. 31. ...More
February 6, 2013
Posted in News, Finance
U.K. Self-Storage Operator Safestore Announces 2012 Loss, Conversion to REIT Status, CFO Change

The impact of the United Kingdom’s value-added tax (VAT) on self-storage facilities was illustrated this week by operator Safestore Holdings PLC, which announced a pre-tax loss of £19.5 million ($30.9 million) for the 2012 fiscal year ended Oct. 31. The company also said it ...More
January 31, 2013
Posted in News, Finance
Self-Storage REITs Flex Muscles, But Mom-and-Pops Are Up for a Fight

Slow growth of new, independent self-storage facilities coupled with heavy consolidation driven by the REITs has many wondering about the future viability of mom-and-pop operations. While wariness is a natural byproduct of market conditions, recent industry activity and the ...More
January 25, 2013
Posted in Blog, Management
Sovran Self Storage Buys Multi-Story Facility in Greater Chicago

Real estate investment trust Sovran Self Storage Inc. has purchased Icon Secure Storage in Aurora, Ill., near Chicago. The three-story facility comprises 71,824 square feet in 768 units. The acquisition was made by Sovran Acquisition LP, and the facility will be rebranded ...More
January 23, 2013
Posted in News, Real Estate
Uncle Bob’s Self Storage Signs 5 Third-Party Management Contracts

Uncle Bob’s Self Storage, the operating brand of Sovran Self Storage Inc., recently signed contracts to assume third-party management of five self-storage facilities. Each property will be rebranded as Uncle Bob’s and integrated into the company’s management platform. ...More
January 23, 2013
Posted in News, Management

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